Mortimer Zuckerman, co-founder of Boston Properties Inc., the largest U.S. office real estate investment trust, said the U.S. economy is in a recession and there’s no sign of a recovery.
"We are looking at the worst set of macroeconomic conditions since the Great Depression," Zuckerman said in an interview with Bloomberg Television.
Yesterday, the dollar fell to a new record low. It was down to $1.55 against the euro.
Oil rose to hit the $1.10 market...then backed off slightly. The commodities index rose three points and bonds edged higher.
As you recall, we didn’t like the action on Wall Street on Tuesday. Following the announcement of Ben Bernanke’s plan to feed an additional $200 billion into the banking system, stocks rose strongly. Gold rose only modestly. We thought it should be the other way around...
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